Read on Twitter
“What’s your best money tip for Malaysians 
so we can do well this year?”
Every year I ask a bunch of finance influencers this question.
Here's a highlight
of their replies for 2021:
so we can do well this year?”Every year I ask a bunch of finance influencers this question.
Here's a highlight
of their replies for 2021:
1) Focus on rebuilding and recovery in 2021.
How do you rebuild your emergency fund? Consider refinancing your mortgage to benefit from low interest rates today.
Or consolidate your debts using a low-interest personal loan to avoid missing payments.
- See Wai Hun, CEO, iMoney
How do you rebuild your emergency fund? Consider refinancing your mortgage to benefit from low interest rates today.
Or consolidate your debts using a low-interest personal loan to avoid missing payments.
- See Wai Hun, CEO, iMoney
2) Focus on building your emergency buffer fund.
It’s always exciting to talk about investing and assets, but what I’ve personally learnt from 2020 is the need to be prepared for the unexpected — to sleep better at night.
- @RoshanKanesan
It’s always exciting to talk about investing and assets, but what I’ve personally learnt from 2020 is the need to be prepared for the unexpected — to sleep better at night.
- @RoshanKanesan
3) Do what gives you peace of mind during this uncertain period.
(Whether it's having cash, paying off debt, gold or crypto.)
We’re currently navigating uncharted territory. I’ll do what I know best, which is stock market investing. But that’s just me.
- @Pakdi7
(Whether it's having cash, paying off debt, gold or crypto.)
We’re currently navigating uncharted territory. I’ll do what I know best, which is stock market investing. But that’s just me.
- @Pakdi7
4) Do personality tests.
The more you know yourself, the quicker you’ll find out what works for you and what doesn’t.
e.g. The Financial Behavior Report tells me I prefer DIY financial planning than working with a professional (so I better keep on learning).
- @surayaror
The more you know yourself, the quicker you’ll find out what works for you and what doesn’t.
e.g. The Financial Behavior Report tells me I prefer DIY financial planning than working with a professional (so I better keep on learning).
- @surayaror
5) Retail investors usually make the mistake of chasing the next hot trend e.g. Bitcoin, Tesla.
But value investors buy an asset at a discount to its value. That’s how you minimize downside.
I'd love to see people invest more rationally, rather than emotionally.
- @moneytips
But value investors buy an asset at a discount to its value. That’s how you minimize downside.
I'd love to see people invest more rationally, rather than emotionally.
- @moneytips
6) It’s another year of uncertainty.
I’m taking a serious look at crypto because of trillions in stimulus expected from the Biden admin.
Rarely give short-term outlooks, but I’m also not asking to sell the house to buy crypto.
Maybe spend some beer money on it.
- @jooolean
I’m taking a serious look at crypto because of trillions in stimulus expected from the Biden admin.
Rarely give short-term outlooks, but I’m also not asking to sell the house to buy crypto.
Maybe spend some beer money on it.
- @jooolean
7) With vaccines and conditions stabilizing in 2021, it’ll be interesting to see if markets will be slower this year.
Regardless, my advice has always been to save and then invest.
AND when an opportunity presents itself, invest more.
- @DividendMagic
Regardless, my advice has always been to save and then invest.
AND when an opportunity presents itself, invest more.
- @DividendMagic
8) With every hardship, there will be ease afterwards.
With the recession taking place in 2020, I foresee the economy will recover in 2021.
Make sure you stay invested — in good times or bad.
Tell yourself this, “History will repeat itself.”
- Eza Ezamie, COO, Majalah Labur
With the recession taking place in 2020, I foresee the economy will recover in 2021.
Make sure you stay invested — in good times or bad.
Tell yourself this, “History will repeat itself.”
- Eza Ezamie, COO, Majalah Labur
9) 2020 showed us managing risks is vital.
Your portfolio needs to be protected at all times through diversification — by investing across different asset classes.
So even if one asset underperforms, your portfolio is protected.
- Wong Wai Ken, StashAway Country Manager
Your portfolio needs to be protected at all times through diversification — by investing across different asset classes.
So even if one asset underperforms, your portfolio is protected.
- Wong Wai Ken, StashAway Country Manager
10) Be resilient by having an investment plan and sticking to it.
Be adaptive through diversification, asset allocation, and dollar cost averaging.
Avoid greed and FOMO — whether it’s Bitcoin, penny or glove stocks.
- @stev_yong @mypf_my
Be adaptive through diversification, asset allocation, and dollar cost averaging.
Avoid greed and FOMO — whether it’s Bitcoin, penny or glove stocks.
- @stev_yong @mypf_my
11) (On property)
- Do we understand what is property investment?
- Have we done sufficient due diligence?
- Are we buying a property we can afford?
If we answer NO to even one of the questions, it may be best to invest in something else.
- Charles Tan, http://kopiandproperty.com
- Do we understand what is property investment?
- Have we done sufficient due diligence?
- Are we buying a property we can afford?
If we answer NO to even one of the questions, it may be best to invest in something else.
- Charles Tan, http://kopiandproperty.com
12) If your income is only from a single source, consider building a 2nd income stream.
When it comes to investing, always remember to weigh your risk-reward ratio before you make decisions.
Don’t blindly follow the crowd or even online “gurus”
- Dawn, http://sgbudgetbabe.com
When it comes to investing, always remember to weigh your risk-reward ratio before you make decisions.
Don’t blindly follow the crowd or even online “gurus”
- Dawn, http://sgbudgetbabe.com
13) ASK.
Be bold.
Ask for that raise. Ask to be paid well in exchange for the work you do — don't wait until you feel you deserve it or have earned it.
Because chances are, you already have! Probably months ago too.
- Su Yin Ong, Suyin Invests
Be bold.
Ask for that raise. Ask to be paid well in exchange for the work you do — don't wait until you feel you deserve it or have earned it.
Because chances are, you already have! Probably months ago too.
- Su Yin Ong, Suyin Invests
14) To know what to prioritize first — to survive, to have savings, or invest to grow money?
You can do all these the safe way (practically zero risk), by putting your money in ASB. Where even if you need money urgently, you can withdraw it.
- @faridbahrudin
You can do all these the safe way (practically zero risk), by putting your money in ASB. Where even if you need money urgently, you can withdraw it.
- @faridbahrudin
15) There are lots of investment opportunities you may want to try.
It is not wrong to try, but you need to first cover the essential parts of personal finance — such as emergency savings and insurance/takaful.
- @faizwahab
It is not wrong to try, but you need to first cover the essential parts of personal finance — such as emergency savings and insurance/takaful.
- @faizwahab
16) How can you add unique value to the stakeholders in your work?
How can you help solve the pain points of your employers/clients/colleagues?
The moment you can do so, you’re well placed to demand for higher pay at work.
- Yi Xuan, http://nomoneylah.com
How can you help solve the pain points of your employers/clients/colleagues?
The moment you can do so, you’re well placed to demand for higher pay at work.
- Yi Xuan, http://nomoneylah.com
17) While many are sharing their profits on social media, please be aware investment is a marathon, not a sprint.
Yes, you can make money from trading, but the fact is 90% of traders lose money in the market.
Focus on strengthening your fundamentals.
- @mohdkautharr
Yes, you can make money from trading, but the fact is 90% of traders lose money in the market.
Focus on strengthening your fundamentals.
- @mohdkautharr
18) (On tips for newbies to crypto)
Bitcoin might seem “expensive”, but I recommend you understand it first, before other coins.
Once you get past the price hype and dive into the deeper philosophical aspects, I believe you’ll be amazed at what you learn.
- David Low, GM, Luno
Bitcoin might seem “expensive”, but I recommend you understand it first, before other coins.
Once you get past the price hype and dive into the deeper philosophical aspects, I believe you’ll be amazed at what you learn.
- David Low, GM, Luno
19) Full article with detailed answers and links to all influencers here: https://www.mr-stingy.com/influencers-money-tips-2021/
